TNAG-1732-FCO40-2445-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 76

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Second it gives listed

listed companies

require a

shareholder

cent

the right to

about his

to provide information

holding. If a person fails without good reason to give the

information, the company may apply to

necessary

on

Court for

for restrictions to be placed upon the

the High

upon the shares in

question. Similarly, a listed company may be required by

10 of its shareholders, upon demonstration of good cause, to investigate into the ownership of its shares.

Third, it

the it forces

directors and the chief

executive of

a

listed

company to

disclose their

shareholdings in the company and in any associated company and any dealings they may have in the relevant shares.

Fourth,

it enables the Financial

Secretary to

appoint inspectors to investigate the ownership of a listed company or any breach of the duty of disclosure by directors and chief executives. The cost of any such investigation

will be recoverable in certain circumstances from

parties involved.

Where an

the

investigation encounters

difficulties in finding out

out relevant facts, the Financial

Secretary may impose restrictions on the shares concerned.

·

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